VOL. XL

No. 20

19-May-1997

EGYPT

IARC Aims To Set Up Operations In Egypt AndThe Gulf

The Inter-Arab Ratings Company (IARC), a joint venture between the Arab MonetaryFund (AMF), the International Finance Corporation and IBCA, the Anglo-French ratings agency(as majority 60% shareholder), intends to set up its second ratings agency in the Middle Eastwithin the next few months. Following the introduction of the foreign investment law IARC hopes toset up a wholly-owned subsidiary in Egypt called Nile...